Jafza to see 20% growth in number of Chinese firms

Jebel Ali Free Zone (Jafza), the flagship free zone operation of Economic Zones World (EZW), received strong response from leading Chinese multinationals for the Middle East region during its recently held 10-day roadshow in China. Eight large Chinese Groups, having annual turnover in excess of $US5 billion, have shown their definite interest in setting up their base in the Free Zone to access the region.

Adil Al Zarooni, Senior Vice President, EZW Global Sales, said, "We expect over 20% growth in the number of Chinese companies in the Free Zone this year.”

Talal Al Hashimi commenting on the Jafza roadshow, added, "We saw strong interest in Chinese multinationals from diverse sectors - from oil & gas, construction to electronics - for the Middle East markets and Jafza as a hub to serve the region. The overwhelming interest from Chinese multinationals in the West Asian and African markets underlines the shift in the world's second largest economy's strategy to diversify its market base from the U.S. and Europe to developing region's like the Middle East which is not only resource rich in terms of per capita income but also one of the fastest growing regions in the world."

Jafza is currently home to 170 Chinese companies. China continues to hold a top position among Jafza's global trade partners. The Asian giant's trade through Jafza is expected to cross Dhs40 billion (US$10.88 billion) in 2012, an increase of about 10% from its trade of Dhs37 billion (US$10 billion) in 2011.